IRA
Industry & Regulatory News
IRS Announces Applicable Federal Rates for February
The IRS has issued Revenue Ruling 2025-05, which contains the applicable federal rates (AFR) for February 2025. These rates are used for such purposes as calculating distributions from retirement savings arrangements that meet the requirements for substantially equal periodic payments (a 10 percent early distribution penalty tax exception), also referred to as “72(t) payments.”
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Alaska
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 15, 2025, for Alaska severe storm and flooding, for the incident period of October 20 – October 23, 2024.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for South Carolina and Alaska
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 10, 2025, for the following.
Industry & Regulatory News
IRS Announces Deadline Relief for California Wildfires
The IRS has announced the postponement of certain tax-related deadlines for victims of California affected by wildfires and straight-line winds until October 15, 2025. The tax relief postpones various tax filing deadlines that began on January 7, 2025.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Missouri, Oregon, Alaska
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for North Dakota Wildfires and Straight-line Winds
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota wildfires and straight-line winds, for the incident period of October 5 – October 6, 2024.
Industry & Regulatory News
Applicability of Certain Aspects of RMD Regulations Delayed to 2026
The Internal Revenue Service (IRS) released Announcement 2025-2, delaying the anticipated applicability date for future final regulations relating to required minimum distributions (RMDs) under section 401(a)(9) of the Internal Revenue Code.
Industry & Regulatory News
IRS Announces Deadline Relief for Post-Tropical Strom Helene in West Virginia
The IRS has announced the postponement of certain tax-related deadlines for victims of Post-Tropical Storm Helene in West Virginia until May 1, 2025.
Industry & Regulatory News
IRS Announces Applicable Federal Rates for January
The IRS has issued Revenue Ruling 2025-1, which contains the applicable federal rates (AFR) for January 2025.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for West Virginia Post-tropical Storm Helene
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 9, 2024, for West Virginia Post-tropical Storm Helene, for the incident period of September 25 – September 28, 2024.